Saudi Arabia Elevator & Escalator Market, By Type (Elevator, Escalator and Moving Walkways), By Service (Maintenance & Repair, New Installation and Modernization), By Elevator Technology (Traction, Hydraulic and Machine Room-Less Traction), By End-User (Residential, Commercial, Institutional, Infrastructural and Others), By Elevator Door Type (Automatic and Manual), Competition, Forecast & Opportunities, 2024
Saudi Arabia elevator & escalator market is expected to grow and $ 1.25 billion by 2024. Rising urbanization, increasing number of high-rise building projects and booming construction and infrastructure sectors are the key factors driving the elevator & escalator market in Saudi Arabia. Additionally, the ageing infrastructure, and consequently, rising requirement for its up-gradation is further expected to propel the elevator and escalator market in the country over the next five years.
Saudi Arabia elevator & escalator market is segmented based on type, service, elevator technology, end-user, elevator door type, company and region. Based on type, the market can be segmented into elevator, escalator and moving walkways. The elevator segment is expected to dominate the market owing to their widespread use in various end user industries. Based on elevator technology, the market can be fragmented into traction, hydraulic and machine room-less traction. The machine room-less traction segment is expected to be the fastest growing segment during forecast period on account of their higher efficiency and smoother ride.
Major players operating in Saudi Arabia elevator & escalator market include Otis Elevator Company Saudi Arabia Limited, Schindler Olayan Elevators Co. Ltd, ThyssenKrupp Elevator Saudi Limited, Mitsubishi Electric Saudi Ltd., Gulf Elevator & Escalator Company Ltd., Khaled Juffali Elevator & Escalator Co., KONE Saudi Arabia, Orona elevator co. KSA, Fujitec Saudi Arabia Co., Ltd., Hyundai Elevator Saudi Arabia and others.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
- Objective of the Study:
- To analyze and forecast the market size of Saudi Arabia elevator & escalator market.
- To classify and forecast Saudi Arabia elevator & escalator market based on type, service, elevator technology, end use, elevator door type, company and regional distribution.
- To identify drivers and challenges for Saudi Arabia elevator & escalator market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia elevator & escalator market.
- To identify and analyze the profile of leading players operating in Saudi Arabia elevator & escalator market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers operating across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of Saudi Arabia elevator & escalator market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Elevator & escalator manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to elevator & escalator
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Saudi Arabia elevator & escalator market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, By Type:
- Moving Walkways
- Market, By Service:
- Maintenance & Repair
- New Installation
- Market, By Elevator Technology:
- Machine Room-Less Traction
- Market, By End User:
- Market, By Elevator Door Type:
- Eastern Province
- Rest of Saudi Arabia
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia elevator & escalator market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
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